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Everything You Need To Know About An RESP

Heather van Mil1115 views

This post is part of the YummyMummyClub.ca and giraffe & friends #giraffeandfriends sponsored program. I received compensation as a thank you for my participation. This post reflects my personal opinion about the information provided by the sponsors.

I like to believe that, on the whole, I do a pretty good job of tackling parenting issues head on. Like many parents of my generation, I research thoroughly, consult with trusted friends and family and come to a decision on whatever the given topic may be – nothing is off limits.

Before we had 2 girls, my hubby and I explored and debated extensively about circumcision, breast vs. bottle feeding, the best daycares and preschools, when to have THAT discussion with our children. Everything is a well thought out, carefully considered choice. However I do seem to have one glaring blind spot.  I reluctantly admit that I am like an ostrich with my head in the sand when it comes to RESPs.

Ryan Gosling Hey Mama RESP Meme

Everyone loves a bit of RESP humour, but honestly RESPs are my nemesis. I’m sure this situation is familiar to more than one reader.  I found myself pregnant with my first born and after months and months of bed rest and illness, I finally found the energy to get dressed and get out of the house to attend a baby show {kids swap, maternity party, fill-in-the-blank-baby-focused-event} only to be bombarded by people trying to sell me on a savings plan for my precious fetus that didn’t even have a gender or name yet, let alone a financial future. I am not good at saying no in the best of circumstances, and those who know me, know that when I am pregnant I am not at my best. Once I gave them my personal information, they proceed to call and email me to invite themselves into my home so they could continue with their sales pitch. If I wasn’t ‘at my best’ I’m sure you can imagine the state of my house throughout my pregnancies. Do you think I wanted people I liked to grace my door, let alone people I didn’t?

Given all this history, I am so glad there is another way! I was recently introduced to giraffe & friends and let me tell you, they are a breath of fresh air!! With mommy brain in full force I found it impossible to make heads or tails of the overwhelming amount of information and technical jargon being thrown around whenever RESPs were being discussed. That’s why I love how giraffe & friends uses direct and simple language. They keep things straightforward by giving you all the information you need so you can feel confident, not confused, when making big decisions for your family.

Mommy-Brain Proof RESPs

giraffe & friends has checked off every item on your RESP wish list, should you have one (and even if you don’t) with their super mama-friendly RESP plan:

  • NO FEES: Absolutely zero, zilch, nada, no fees service that means you know all your money is going towards your child’s education.
  • GRANTS INCLUDED: giraffe & friends take care of all of the government grants so you don’t miss a thing!
  • SAVINGS GUARANTEED: If you thought ‘mo’ money mo’ problems’ you’ll be especially happy to hear that your personal savings are 100% guaranteed no matter what the stock market is doing.
  • INSURANCE OPTIONS: giraffe & friends goes the extra mile by offering insurance for YOU, the parents, so if the unthinkable happens like a death or permanent disability, they will make your payments for you.
  • NO MIDDLE MAN: Since you can buy online, there’s no need to book an appointment or pack a diaper bag; the application can easily be done at home during your child’s naptime.

They don’t let anything get in the way of your little one’s education. It is literally a no-brainer. Take that mommy brain!!

So  forget about having to tidy your (slightly messy) abode, or even having to get all dolled up (read: finding your one t-shirt with no spit-up stains on it) because you can use giraffe & friends’ fabulous website to buy your child’s RESP! Whether it’s 2am and you’re up with a nursing infant, or you’ve managed to carve out a minute at the computer between episodes of Backyardigans on repeat, it’s there whenever you’re ready. So not only are you not rushing out the door, late for yet another appointment with a grumpy, teething baby in tow, but you also get to indulge your hankering for online shopping, guilt-free. Win-win!

One of the biggest stumbling blocks I have when it comes to RESPs is what it can be used for when the time comes. I never went to university because I didn’t know what I wanted to do with my life and I wasn’t ready to spend tens of thousands of dollars trying to find out. I chose the path of work experience, which led to me pursue a Montessori teaching diploma. I am passionate about children being free to choose the right post-secondary path for them, no matter what it looks like. Thankfully, when you save with an RESP, not only does it cover many non-traditional education options like the one I chose (a full list of what is approved can be found here), but the money can also be spent on most post-secondary school expenses including food, rent, car and apprenticeship tools, so long as your child is enrolled in an approved form of post-secondary education. It can also be used in conjunction with a scholarship or student loan and can even be put on hold should your child decide not to pursue a post-secondary education immediately.

So whether you contribute $25 per month or $250, getting started now with giraffe & friends will ensure your child’s education gets a strong start. Now if only choosing a name for your child was so easy!

An RESP is a great way to save for your child’s education. No matter what education your child attends, it will take lots of money to graduate. Visit the ‘How To Plan For Your Kids’ Future’ page  and learn the best ways for parents to save money, what to look for in an RESP, when you should start saving for your child’s education, and more.

Then visit giraffe & friends, Canada’s first no-fee, worry-free, 100% guaranteed RESP that you can buy online. The process is so simple you can start saving for your children’s future education while they nap. Kids grow out of everything. Give them something to grow into.

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